Compliance Advisory Manager, Insurance

Monzo; London, Cardiff; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A modern banking service in London is seeking a Compliance Advisory Manager to guide their Insurance squad on compliance matters. Ideal candidates should have a firm grasp of FCA ICOBS rules and experience in advising on insurance products. This role supports a culture of compliance while enhancing customer experiences. A commitment to clear communication and collaboration is essential. Flexible working arrangements are offered.

Benefits

Flexible working hours

£1,000 annual learning budget

Qualifications

• Strong knowledge of FCA ICOBS rules and regulations.
• Hands-on experience advising on insurance products.
• Ability to communicate complex compliance matters clearly.

Responsibilities

• Advise the Insurance squad on compliance matters.
• Review customer journeys for good outcomes.
• Oversee regulatory breaches related to insurance activity.

Skills

Compliance knowledge

Communication skills

Problem-solving

Collaboration

Job description

We’re on a mission to make money work for everyone. We’re waving goodbye to the complicated and confusing ways of traditional banking. With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!

We’re not about selling products - we want to solve problems and change lives through Monzo ️

We’re looking for a Compliance Advisory Manager to join our second line of defence (2LoD).

We’re looking for a pragmatic and collaborative compliance manager with good knowledge of FCA ICOBS rules and associated regulations and hands-on experience of providing compliance advice. You must also be passionate about Monzo\'s mission to make money work for everyone.

This role will have day-to-day responsibility for advising the Insurance squad on compliance matters (Building and Contents insurance, Life insurance, Travel insurance, Phone insurance). This role reports directly to Monzo’s Senior Compliance Advisory Manager responsible for advising the Wealth Collective - covering Savings, Investments, Pensions & Insurance.

At Monzo we do things differently: we truly care about providing a phenomenal experience for our customers. We believe there’s a better way to do banking, and we want to be the best possible (fully compliant!) bank without getting stuck in the old ways of doing things. We operate a “three lines of defence” model of risk management at Monzo: you’ll be working in 2LoD as part of our Risk and Compliance Collective, in the Compliance Team.

• Being the first point of contact for compliance advice on Insurance products.
• Providing clear and proactive compliance advice to the Insurance squad, especially on ICOBS and Consumer Duty.
• Reviewing customer journeys and communications to help the business deliver good customer outcomes, and flagging any risks.
• Advising Marketing and Financial Promotion teams on financial promotion rules and guidance.
• Overseeing regulatory breaches and incidents in relation to insurance activity.
• Learning about the wider Wealth products (Savings, Investments, Pensions) with the aim to expand support to more areas in future.

This role requires strong communication & collaboration skills with a ‘hands-on’ approach, to ensure that regulations are fully understood, our products are ‘compliant by design’ and our customers\' needs are being met.

• You know the Consumer Duty and ICOBS rules inside out
• You've got hands-on experience advising on insurance products ideally from working at a bank, insurer, or fintech.
• You like to be where the action is and thrive in fast paced environments.
• You're a great communicator and problem-solver, good at weighing risks and finding balanced solutions.
• You can work independently and juggle changing priorities.
• You're good at building strong relationships with different teams.
• You're passionate about compliance and excited about the future of banking!

What’s in it for you

This role can be based in our London or Cardiff offices, or be distributed working within the UK (with ad hoc meetings in London)

We offer flexible working hours and trust you to work enough hours to do your job well, and at times that suit you and your team.

£1,000 learning budget each year to use on books, training courses and conferences.

The application journey has 4 key steps:

1. Initial video interview with hiring manager - 30 mins
2. Technical video interview with hiring manager & stakeholder - 60 mins
3. Behavioural video interview with two stakeholders - 60 mins

Our average process takes around 3-4 weeks but we will always work around your availability. You will have the chance to speak to our recruitment team at various points during your process but if you do have any specific questions ahead of this please contact us on [e-mail]

We’ll only close this role once we have enough applications for the next stage. Please submit your application as soon as possible to make sure you don’t miss out.

Identity survey

Our goal at Monzo is to make money work for everyone. To do that, working at Monzo must work for everyone. We want to create an equitable, engaged and innovative workplace which gives people from all backgrounds the support they need to thrive and grow.

Making Monzo work for everyone starts right at the beginning of every Monzonaut\'s journey: when they apply to work here. This demographic survey will help us better understand the people who apply to work at Monzo. It\'ll help us see how different groups progress through our hiring process, and where we need to make improvements to be more inclusive. If you choose to fill it out, all of the information you give us is:

• Voluntary. And we\'ve included a "prefer not to say" option for every question. It\'d be helpful if you still fill out the survey even if you choose "prefer not to say" for every question, as it\'s useful for us to understand & record this. We won\'t know if you choose to fill this survey in or not.
• Anonymous to Monzo. We can\'t tie your responses to you and they won\'t make a difference to the outcome of your application. We\'ll only use grouped responses for equal opportunities monitoring in our hiring process.

By filling out this survey, you agree that we can use your responses for the purposes we\'ve mentioned above. You are not letting us know if we need to make any adjustments to the hiring process because of disability or neurodiversity - to do this please email us.

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